Bitcoin Gains Institutional Trust as Volatility Drops

Laffont emphasized that Bitcoin’s volatility has decreased significantly. Despite a 13% price rise in 2025, BTC’s beta—its volatility relative to the broader market—has declined. “If beta is decreasing, that would be really interesting,” Laffont said, noting it lowers the cost of entry for long-term investors like Coatue.

He also pointed to a key comparison: following President Trump’s tariff announcement in April, Bitcoin dropped just 5%, while the Nasdaq fell over 6%. This performance, Laffont said, reinforces Bitcoin’s resilience to broader market stress.

The launch of Bitcoin ETFs by major firms like BlackRock is another sign of maturation. Meanwhile, blockchain data shows a sharp drop in coin movement from wallets holding BTC for over a month, suggesting investors are shifting toward long-term holding.